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Angkor Mikroheranhvatho Kampuchea
Angkor Mikroheranhvatho (Kampuchea) Co., also known as AMK, is a registered microfinance institution (MFI) headquartered in Phnom Penh, Cambodia with over 280,000 active borrowers. History AMK was established in 2002 as a microfinance company to manage Irish NGO Concern Worldwide’s microfinance activities in Cambodia. By 2003, AMK was functioning independently of Concern and subsequently received its license from the National Bank of Cambodia in 2004. In the following years, AMK experienced rapid growth in its core credit business, extending its branch network to every province in the country. In 2010, it became the largest microfinance institution in Cambodia in terms of client numbers, and by 2011, AMK surpassed all other banks and MFIs to become the largest provider of credit in Cambodia in terms of client numbers. Microcredit Methodology AMK utilizes a solidarity group lending methodology to administer its group loans. This process begins with potential clients self-sel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance Institution
Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance product and services in MFI include: # Savings # Microcredit # Microinsurance # Microleasing and # Fund transfer/remittance. Microfinance services are designed to reach excluded customers, usually low income population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Peck Christen, Robert; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phnom Penh
Phnom Penh is the Capital city, capital and List of cities and towns in Cambodia, most populous city of Cambodia. It has been the national capital since 1865 and has grown to become the nation's primate city and its political, economic, industrial, and cultural centre. The city's name derives from Wat Phnom, a Buddhist temple, and Penh, Lady Penh, the city's founder. It sits at the confluence of the Tonlé Sap River, Tonlé Sap and Mekong rivers, and is the start of the Bassac River. It is also the seat of Monarchy of Cambodia, Cambodia's monarchy, based at the Royal Palace of Cambodia, Royal Palace. Founded in 1372, Phnom Penh succeeded Angkor Thom as the national capital in 1434 following the Dark ages of Cambodia, fall of Angkor, and remained so until 1497. It regained its capital status during the French protectorate of Cambodia, French colonial era. It underwent a period of investment and modernization during First Kingdom of Cambodia, Cambodia's independence period, earni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambodia
Cambodia, officially the Kingdom of Cambodia, is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. It is bordered by Thailand to the northwest, Laos to the north, and Vietnam to the east, and has a coastline along the Gulf of Thailand in the southwest. It spans an area of , dominated by a low-lying plain and the confluence of the Mekong river and Tonlé Sap, Southeast Asia's largest lake. It is dominated by a tropical climate and is rich in biodiversity. Cambodia has a population of about 17 million people, the majority of which are ethnically Khmer people, Khmer. Its capital and most populous city is Phnom Penh, followed by Siem Reap and Battambang. In 802 AD, Jayavarman II declared himself king, uniting the warring Khmer princes of Chenla Kingdom, Chenla under the name "Kambuja".Chandler, David P. (1992) ''History of Cambodia''. Boulder, CO: Westview Press, . This marked the beginning of the Khmer Empire. The Indianised kingdom facilitated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concern Worldwide
Concern Worldwide (often referred to as Concern) is Ireland's largest aid and humanitarian agency. Since its foundation in 1968 it has worked in 50 countries. According to its latest annual report, Concern helped 28.6 million of the world's poorest and most vulnerable people in 2019, while responding to 82 emergencies in 24 countries. Concern aims to help those living in the world's poorest countries. Concern is engaged in long-term development work, in addition to emergency relief in Africa, Asia and the Caribbean. Concern's core work focuses on health, hunger and humanitarian response in emergencies. The charity works in partnership with small community groups as well as governments and large global organisations. Concern is one of fourteen fully certified members of Humanitarian Accountability Partnership. It has no religious or political affiliations. Concern Worldwide US is an affiliate of Concern Worldwide. It has offices in New York City and Chicago. Concern Worldwide i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Of Cambodia
The National Bank of Cambodia (NBC; ) is the central bank of Cambodia. The bank's duties include, ''inter alia'', the management of monetary and exchange policies, the regulation of banks and financial institutions, and the control of the national currency, the riel. The bank was established in 1954, after Cambodia obtained its independence from France, taking over from the Institut d'Émission des États du Cambodge, du Laos et du Viet-nam, a short-lived French quasi-central bank that had itself replaced the Banque de l'Indochine two years earlier. During Democratic Kampuchea Democratic Kampuchea was the official name of the Cambodian state from 1976 to 1979, under the government of Pol Pot and the Communist Party of Kampuchea (CPK), commonly known as the Khmer Rouge. The Khmer Rouge's capture of the capital Phno ... from 1975 to 1979, the whole financial system ceased to exist in the era of the non-monetary economy, but the central bank was re-established in October ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solidarity Lending
Solidarity lending is a lending practice where small groups borrow collectively and group members encourage one another to repay. It is an important building block of microfinance. Operations Solidarity lending takes place through 'solidarity groups'. These groups are a distinctive banking distribution channel used primarily to deliver microcredit to poor people. Solidarity lending lowers the costs to a financial institution related to assessing, managing and collecting loans, and can eliminate the need for collateral. Since there is a fixed cost associated with each loan delivered, a bank that bundles individual loans together and permits a group to manage individual relationships can realize substantial savings in administrative and management costs. In many developing countries the legal system offers little, if any support for the property rights of poor people. Laws related to secured transactions – a cornerstone of Western banking – may also be absent or unenfor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various people in different contexts.Denis "Authentic Development: Is it Sustainab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance Information Exchange
Microfinance Information Exchange, Inc. (commonly known by its acronym MIX) was a non-profit organization that provided market data and intelligence on financial service providers catering to low-income populations around the world. Founded by the Consultative Group to Assist the Poor (CGAP) and sponsored by the Citi Foundation, CGAP, the Mastercard Foundation, MetLife Foundation, Bill & Melinda Gates Foundation and others, MIX had offices in Washington DC, New York, Lima (Peru), Baku (Azerbaijan), Dakar (Senegal), and Hyderabad (India). MIX's mission was to provide data analytics to empower decision-makers - socially responsible investors, policy makers and financial services providers - to build an inclusive financial services ecosystem. Since its founding in 2002, MIX had built the digital information infrastructure needed to bring greater transparency to financial sectors serving low-income populations in emerging markets, including providing market data on over 3,000 financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pete Power
Pete Power (1969 - 2018) was the CEO of Angkor Mikroheranhvatho (Kampuchea) Co. (AMK), the largest microfinance institution in Cambodia in terms of borrower numbers. AMK currently provides credit to about 300,000 customers or 10% of the households in Cambodia. Power successfully led AMK and its 1,000 staff through the Great Recession and subsequently embarked on a strategic transformation process to change AMK from a rural credit-only organization to a provider of a broad range of financial services, including savings, credit, money transfers, mobile banking, and various other innovative financial services. Biography Power grew up on a dairy farm in Rathgormack, County Waterford, Ireland and attended Rockwell College high school. He was award the first Dermot Harris Memorial Scholarship to the University of Scranton. Power earned a Bachelor of Science in International Relations and Philosophy from the University of Scranton, followed by an MA in European Integration from t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
